Question: =+EX 14-21 Amortize premium by interest method b. $1,027,982 Motocar Co. produces and sells automobile parts. On the first day of its fiscal year,

=+EX 14-21 Amortize premium by interest method

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b. $1,027,982 Motocar Co. produces and sells automobile parts. On the first day of its fiscal year, Motocar Co. issued $15,000,000 of five-year, 15% bonds at an effective interest rate of 13%, with interest payable semiannually. Compute the following, presenting figures used in your computations.

a. The amount of cash proceeds from the sale of the bonds. (Use the tables of present values in Exhibits 4 and 5. Round to the nearest dollar.)

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